Singapore’s retail sales fall 3.2% on year in February
A surge of 51.3% on the year in motor vehicle sales was cited as the main reason behind stronger monthly retail sales data. The data showed that sales of medical goods and toiletries as well as department store sales also increased 4.1% and 0.8%, respectively, from a year earlier. However, retail sales of food and beverages, telecommunications equipment and computers as well furniture and household equipment posted declines on a yearly basis.
Meanwhile, retail sales for food and beverage services also fell 1.9% on the year to reach SGD677 million ($498 million) compared with SGD690 million ($508 million) in February 2015.
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